Sichuan Injet Electric (300820)2025-04-24 13:05Financial Performance - The total revenue for the year 2024 is projected to be 1.5 billion RMB, representing a 10% increase compared to the previous year[11]. - The company's operating revenue for 2024 reached ¥1,780,269,468.38, a slight increase of 0.59% compared to ¥1,769,805,726.40 in 2023[16]. - Net profit attributable to shareholders decreased by 25.19% to ¥322,755,876.87 in 2024 from ¥431,420,400.91 in 2023[16]. - The company reported a basic earnings per share of ¥1.46 for 2024, down 26.63% from ¥1.99 in 2023[16]. - The weighted average return on equity decreased to 14.22% in 2024 from 24.27% in 2023, a decline of 10.05%[16]. - Operating profit was 39,025.88 million yuan, a year-on-year decrease of 21.74%[70]. - The company achieved operating revenue of 178,026.95 million yuan, a year-on-year increase of 0.59%[70]. - Revenue from the photovoltaic industry decreased by 10.27% to ¥873,787,858.47, accounting for 49.08% of total revenue[81]. - Revenue from the semiconductor and electronic materials sector saw a revenue increase of 6.41% to ¥350,606,496.56, making up 19.69% of total revenue[80]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 4 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[3]. - The company distributed a total cash dividend of RMB 88,145,083.20 (including tax) to all shareholders as part of the 2023 annual profit distribution plan[130]. - The total distributable profit for the company is RMB 1,380,961,511.56, with the cash dividend representing 100% of the profit distribution[182]. - The company will not issue bonus shares or conduct capital reserve transfers in the 2024 profit distribution plan[182]. Market Expansion and Growth Strategy - The company aims to expand its market presence by entering three new provinces in 2025, targeting a 15% growth in market share[11]. - Future guidance includes an expected revenue growth rate of 12% for 2025, driven by new product launches and market expansion[11]. - The company anticipates substantial growth in overseas business over the next 2-3 years, driven by strategic partnerships and innovative product development[38]. - The company is actively expanding into the overseas photovoltaic market to compensate for domestic order declines[63]. Research and Development - Research and development efforts will focus on new power control systems, with an investment of 200 million RMB planned for the next fiscal year[11]. - Research and development (R&D) expenditure reached CNY 136,616,746.03, accounting for 7.67% of operating revenue, up from 5.51% in the previous year[92]. - The number of R&D personnel increased to 452, a rise of 4.63% compared to 432 in the previous year[92]. - The company invested over 20 million yuan in high-end testing and inspection equipment, including over 20 units, to enhance R&D capabilities[72]. - The company is focusing on semiconductor equipment power supply R&D, with steady increases in production models and customer coverage in 2024[64]. Risk Management - The company has identified key risks related to supply chain disruptions and is implementing strategies to mitigate these risks[3]. - The company faces industry volatility risks due to high revenue concentration in the photovoltaic and semiconductor materials sectors, which are sensitive to downstream demand and policy changes[117]. - The company is addressing order fulfillment risks, particularly in the photovoltaic sector, by establishing a comprehensive customer evaluation system and strict credit management[118]. - The company is working to mitigate risks associated with high industry application concentration by expanding into semiconductor equipment and electric vehicle charging sectors[122]. Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, and has established 4 specialized committees to enhance governance[135]. - The company has maintained an independent governance structure, ensuring no interference from controlling shareholders in decision-making[134]. - The company has a well-defined governance structure with independent operational departments, ensuring no interference from shareholders in organizational matters[146]. - The company has implemented a "Quality Return Dual Improvement" action plan to enhance investor confidence and promote sustainable development[129]. Employee and Social Responsibility - The company has established an employee care fund and provided timely assistance to employees in need, including support for a child with a serious illness in 2024[197]. - A total of 1.6 million yuan has been donated to the "Yingjie Education and Talent Fund" to support local youth education[197]. - The company made social welfare donations totaling 1.2 million yuan during the reporting period, including 600,000 yuan to the Sichuan Province Care for the Next Generation Fund[198]. - The company actively participates in local poverty alleviation efforts and collaborates with government departments to implement assistance plans[199].